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Cover
Retail Rap
By Phyllis Schiller
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| Hearts on Fire |
The 4Cs are not the only things that make a piece of diamond jewelry a sales winner. In an ongoing series, Rapaport Magazine explores the “3Ws” — what’s selling, what’s not and why — by going straight to the people who really know — jewelry retailers. Each month, we ask a sampling of retailers to comment on the important issues that are facing the industry today. Here is what they had to say when asked: “Has there been an uptick in sales of diamond fashion jewelry? Is there any particular type that sells best?”
“In our area, we’re definitely seeing a bit of an upswing, which is nice for a change. Fashion jewelry has been wonderful for us, especially in the diamond category. We carry Roberto Coin and Hearts on Fire, which do incredibly well, and also Coast Diamond, which makes beautiful diamond fashion jewelry. We also carry John Hardy, which does some diamonds with silver, and we do very well with that, too. It’s been very consistent.
“This August, we’re off to a fantastic start and some of it has been the fashion side of things, not just engagement rings. About an hour ago, we sold a very expensive Roberto Coin diamond bracelet. It feels good to have nice sales like that.
“We try to stick with the lines we do very well with. We actually spent more with Roberto Coin and Hearts on Fire, expanding those lines, than we have in the past. We’re putting the dollars to work into something we already have confidence in.”
“We do stock diamond fashion jewelry. For the first half of the year, we’re flat from last year but what is selling the best within that category are diamond pendants. We’re not a true ‘branded store.’ We still make a lot of our own pieces. It’s a higher-end ticket item. It’s more expensive items, $2,500 average retail.”
“We really haven’t seen a dip in the fashion part of it because we have two stores and we try to carry things that are affordable as well as important. There may have been a dip in 2008 or 2009, but for the past three or four years, it’s been pretty solid with everything. We are seeing an uptick in better diamond jewelry, like Forevermark and Hearts on Fire, and in fashion items like Simon G. Forevermark is our newest line and it encompasses several new vendors for us and different styling, so it’s a very exciting time for us.”
“We do well with diamond finished goods and always have. I wouldn’t say we had a huge drop-off even when the economy was not as good as it is now. We tend to steer toward the classics with diamond jewelry and I think that’s why it’s always selling. It’s more the style than the names; we’re not a heavily branded store. We feel that our store is the brand.”
“Our year’s been very strong so far. We’re having a sale this weekend and people have been coming in and they have been buying a lot of diamond fashion. In general, it has been doing well, plus the sale is spurring some growth. We’re always adding new pieces and new lines to diamond fashion. We’re considering a couple of new collections right now to expand the category; we look for lines with quality and uniqueness and salability that meet a certain price point.
“We’re seeing classics sell but we’re also seeing a certain amount of customization. People want to inscribe a saying or names on the pieces, for example. We’re seeing sales of chocolate diamonds from LeVian do well and also Simon G…the more unique, creative spins on classic pieces are starting to turn. People are looking in the cases and getting excited about things they might not have expected to see.”
“We do stock diamond fashion jewelry. During the holidays, it sells well — Mother’s Day, the Christmas season, that sort of thing. The name designer brands sell.”
“We do stock quite a bit in diamond fashion, but it has been a relatively slow summer. We sold two diamond necklaces that say ‘love’ this past week, which we never would have expected this time of year.”
“Diamond jewelry is probably our biggest category, our strong point. For us, it’s always been a staple. We stock name brands — we have this vintage-inspired brand, Penny Preville, which we do really well with, and Roberto Coin. We also stock David Yurman, but that’s more of a fashion silver line that does have diamonds, and then in bridal, we have Michael B., Jack Kelége and Precision Set. And we do our own private label diamond jewelry, classic styles. The tried-and-true — diamond anniversary bands and the diamond hoops and diamond studs and the solitaires — that are really well made never seem to have a sunset. We don’t have a lot of lines, maybe a dozen. It’s easier to carry fewer lines and try to do well with them, rather than add this, that or the other.
“Things are better — our business is more consistent, not so many ups and downs. It’s leveled off, which is nice, because you can plan, you can buy, you can figure out where you’re going. People aren’t just buying willy-nilly, though. They’re buying for occasions and to celebrate the moments in their lives. I like that, because it has some solid footing.”Article from the Rapaport Magazine - September 2013. To subscribe click here.
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